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Updated about 8 years ago,
1031 from LLC distribution to individuals?
My brother and I have an LLC that owns a share of a property that we inherited.
Our property share is about to be purchased, and I would like to rollover my half of the proceeds into 1031/DST properties. My brother might want to do the same, and to take cash out.
We just realized that since we are receiving the proceeds to the LLC, the 1031 exchange most likely has to be done by the LLC.
If this is the case, is there any way for each of us to have our own 1031 investments from here, or must we share how we invest from hereon out, with the proceeds of our sale? thanks